Senate passes rollback of banking rules enacted after financial crisis!

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Remember, who is the president? :joy::joy:

Full control of both houses. No way for deflection. You marry her, you divorcer her said my dad.:wink:

Anyone read past the headline and realize it only applies to banks with under $250B in assets? It makes it so credit unions and community banks don’t have to comply with a ton of regulations designed for mega banks that create systematic risk. Regulations are unchanged for the 12 largest banks.

Based on headlines, you’d think they’re allowing your bank to day trade bitcoin with your savings account money.

Will this help promoting competition in the banking industry? This regulation has made the big banks bigger and reduced consumer choice.

Are those big banks against this deregulation?

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I’m not sure how big banks feel about it, but I hope it will increase competition. During the financial crisis, we were told that big banks were too big. The fact they were so big created risk to the financial system if a bank failed. Then after the financial crisis the banks are even bigger than before. I fail to see how that’s a solution. We added another government agency to regulate them after multiple agencies failed to do their job leading up to the financial crisis.